Hurricane Energy plc announced board resignations and appointments as well as the withdrawal of a requisition notice from one of its shareholders. BOARD CHANGES Yesterday (29 June) chairman Steven McTiernan, and non-executive directors (NEDs) John van der Welle, Sandy Shaw, Beverley Smith and Dr David Jenkins resigned from the board with immediate effect. Alan John […]
Tag: oil & gas
UKOG starts drilling Basur-3 appraisal well
UK Oil & Gas plc (UKOG) said it had marked a milestone with the start of air drilling at the Basur-3 appraisal oil well in the 305 km² Resan licence, Turkey. On 26 June, operations began on the initial 17.5 inch diameter hole section, following which a 13⅝ inch casing is expected to be set. […]
Hurricane fails to win court approval for restructuring
Hurricane Energy plc said that the High Court had today refused to sanction the company’s proposed restructuring plan for its operations on the Rona Ridge,West of Shetland. The upstream oil and gas company added that its existing board was considering all options including an appeal. RISK “Unless the company or the Ad Hoc Committee successfully […]
Helium One identifies gas show at Tai-1, Rukwa
Helium One Global Ltd has identified helium enriched gas in drilling mud (gas show) in the Lake Bed Formation during exploration drilling of Tai-1 well at Rukwa in Tanzania. The company said that helium shows were identified in shallow strata from 70.5 metres. Micro-gas chromatograph showed helium concentrations up to 22,084ppm (2.2%) He in gas recovered […]
Helium One starts exploration drilling at Rukwa
Helium One Global Ltd said it had started its exploration drill programme at its 100%-owned Rukwa project in Tanzania. Last Friday (12 June), the company began drilling at Tai which it recently categorised as a ‘must drill’ three-way dip closure following a recent 2D infill seismic. Helium One’s three-well exploration programme is targeting shallow trap […]
Hurricane bondholders back restructure
Hurricane Energy plc’s bondholders today voted 100% to support the company’s restructuring plan while the majority of shareholders voted against it. Shareholder votes in favour were reported at 7.66% compared with 92.34% opposing the plan. The company said that 1,518,667 votes were withheld and 32.87% of the issued share capital voted. Hurricane added that because […]